Client has 8.5 lakh salary and f&o turnover of 3.2 lakhs with loss of 54 thousand.
Does he has to do tax audit if I file in 44AB instead of 44AD ?
Thanks & Regards
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Futures & Options - Tax Audit
Replies (3)
I don't think it crosses the threshold limit for tax audit.
Yes, as per 44AB turnover is not crossed & I checked we can file return without tax audit even if loss, if turnover is less than 10 crores.
But what about when turnover is less than 2 crores. I am confused there.
But what about when turnover is less than 2 crores. I am confused there.
Go through 44ad on that time.
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